BlackRock TCP Capital (NASDAQ:TCPC) Releases Earnings Results, Misses Expectations By $0.04 EPS

by · The Markets Daily

BlackRock TCP Capital (NASDAQ:TCPC – Get Free Report) released its earnings results on Wednesday. The investment management company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.04), Zacks reports. The firm had revenue of $70.93 million during the quarter, compared to the consensus estimate of $69.13 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same quarter in the previous year, the firm posted $0.49 EPS.

BlackRock TCP Capital Stock Performance

TCPC stock traded up $0.16 during mid-day trading on Thursday, hitting $8.71. 1,090,442 shares of the company were exchanged, compared to its average volume of 500,794. BlackRock TCP Capital has a 1-year low of $7.71 and a 1-year high of $12.43. The business has a 50 day simple moving average of $8.44 and a 200-day simple moving average of $9.74. The company has a current ratio of 44.47, a quick ratio of 44.47 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $745.49 million, a PE ratio of -16.43 and a beta of 1.47.

BlackRock TCP Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.76 dividend on an annualized basis and a yield of 20.21%. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. BlackRock TCP Capital’s dividend payout ratio is -256.60%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TCPC. Wells Fargo & Company raised their target price on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research report on Thursday. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods dropped their price target on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.00.

Read Our Latest Stock Analysis on TCPC

Insider Transactions at BlackRock TCP Capital

In other news, Director Philip M. Tseng acquired 5,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $9.07 per share, with a total value of $45,350.00. Following the acquisition, the director now directly owns 17,481 shares in the company, valued at $158,552.67. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other BlackRock TCP Capital news, Director Philip M. Tseng acquired 5,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $9.07 per share, with a total value of $45,350.00. Following the acquisition, the director now directly owns 17,481 shares of the company’s stock, valued at approximately $158,552.67. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rajneesh Vig bought 25,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were acquired at an average price of $9.09 per share, for a total transaction of $227,250.00. Following the transaction, the chief executive officer now owns 130,930 shares in the company, valued at approximately $1,190,153.70. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 42,000 shares of company stock worth $381,875. Company insiders own 0.16% of the company’s stock.

BlackRock TCP Capital Company Profile

(Get Free Report)

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.

See Also